Strattec Security (NASDAQ:STRT) Cut to Buy at Wall Street Zen

Strattec Security (NASDAQ:STRT) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Strattec Security Trading Up 7.1%

Shares of NASDAQ:STRT opened at $71.98 on Friday. Strattec Security has a 12 month low of $21.05 and a 12 month high of $70.58. The company has a quick ratio of 1.72, a current ratio of 2.33 and a debt-to-equity ratio of 0.06. The company’s fifty day simple moving average is $51.96 and its 200 day simple moving average is $44.91. The firm has a market cap of $300.16 million, a price-to-earnings ratio of 14.54, a PEG ratio of 1.47 and a beta of 1.39.

Strattec Security (NASDAQ:STRT) last issued its quarterly earnings data on Thursday, May 8th. The auto parts company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.55. Strattec Security had a net margin of 3.60% and a return on equity of 9.66%. The business had revenue of $144.08 million for the quarter, compared to analyst estimates of $140.84 million. As a group, research analysts forecast that Strattec Security will post 3.67 EPS for the current fiscal year.

Institutional Investors Weigh In On Strattec Security

Several hedge funds and other institutional investors have recently added to or reduced their stakes in STRT. Truffle Hound Capital LLC acquired a new position in shares of Strattec Security during the 4th quarter worth about $5,150,000. American Century Companies Inc. acquired a new position in shares of Strattec Security during the 4th quarter worth about $560,000. JPMorgan Chase & Co. increased its stake in shares of Strattec Security by 172.0% during the 4th quarter. JPMorgan Chase & Co. now owns 4,392 shares of the auto parts company’s stock worth $181,000 after purchasing an additional 2,777 shares during the last quarter. O Shaughnessy Asset Management LLC acquired a new position in shares of Strattec Security during the 4th quarter worth about $960,000. Finally, Integrated Quantitative Investments LLC acquired a new position in shares of Strattec Security during the 4th quarter worth about $227,000. 68.91% of the stock is currently owned by institutional investors and hedge funds.

About Strattec Security

Strattec Security Corporation designs, develops, manufactures, and markets automotive access control products under the VAST Automotive Group brand primarily in North America. The company provides mechanical and electronically enhanced locks and keys, passive entry passive start systems, steering column and instrument panel ignition lock housings, latches, power sliding side door systems, power tailgate and lift gate systems, power deck lid systems, door handles, and related products.